The largest source of employment in the country, Agriculture, received a massive boost in Modi 2.0 government’s maiden Budget presented in the Lok Sabha by Finance Minister Nirmala Sitharaman on Friday. The Union Minister in her speech praised the farmers for helping India become self-sufficient in pulses, while hoping the same could be accomplished for oilseeds. Sitharaman also announced the setting up of 10,000 new farmer producer organisations in the next five years. The Minister also asserted the government’s intent in working with states so that the farmers could benefit from the eNam scheme to improve their ease of business and ease of living. She also urged the need to go ‘back to basics’ and follow ‘Zero Budget Farming’ so that their income develops by India’s 75th Independence Day.
During her speech in the Parliament, Minister Sitharaman highlighted these proposals for the farming sector, “I place my appreciation for our farmers, who have made India self-sufficient in pulses. The revolution that they have carried out in the last one-and-a-half years, I want to congratulate them for it. I am sure they will repeat such a success even in the production of oilseeds. Our import bill will be reduced by their seva.
"We also hope to form 10,000 new farmer producer organisations that will ensure economy upscale for farmers over the next five years. The government will work with state governments to allow farmers to benefit from eNam. The Agricultural Produce Marketing Co-operative Act should not hamper farmers from getting a fair price for their produce. Ease of doing business and ease of living, both should apply to farmers too.
And we should go back to basics on one count, I would like to draw your attention, zero budget farming. Zero Budget Farming may not be a new thing, that’s why I said, we’d go back to basics, we need to replicate this innovative model. Some states have already tried somewhat, through which in a few states, farmers are already being trained in this practice, steps such as this can help in doubling our farmers' income in time for our 75th year of independence.”
Watch the video above:
This is the 89th Union Budget, which is the financial statement of the government, detailing its revenue and expenditure in the past, as well as estimated spending and projections for the coming year.
The Finance Minister on Thursday had tabled in Parliament the pre-Budget Economic Survey for 2018-19, which projected the state of the economy and outlined its challenges. The survey was released by Chief Economic Adviser Krishnamurthy Subramanian on Thursday.